Blackstone offers to buy Finnish real estate firm

Private equity group BlackstoneGroup said it had offered to buy all shares inFinnish real estate investment company Sponda forabout 1.8 billion euros ($2.0 billion) as it seeks to expand its real estate business in the Nordic region. The cash offer, 5.19 euros per share, represents a premiumof 20.7 % compared to Sponda's last closing price. Sponda board recommends the shareholders to accept theoffer. The fair value of Sponda's investment properties was about3.8 billion euros in March.